The accumulated interest collected by microfinance Institutions (MFIs) on loans shall not exceed the principal amount, according to the much-awaited ordinance promulgated by Governor E.S.L. Narasimhan here on Friday to put a check on their activities. However, the interest rate chargeable by the MFIs finds no mention in the ordinance as the government is of the view that this falls under the purview of the Reserve Bank of India (RBI), according...

Last month, leaders from 185 countries met in New York to take stock of progress in achieving the Millennium Development Goals (MDGs) — which include, among other things, eradicating poverty and hunger, reducing child mortality, improving maternal health — that were set in 2000 by the United Nations. The aim was to achieve these goals by 2015. But 10 years down the line, the world is way behind targets in achieving...

In a recent judgement, the State Information Commissioner Vijay Kuvalekar has said that Trusts  or Institutions that are not directly substantially funded by the government, but still indirectly receive funds to run schools, courses, colleges, come under the Right to Information (RTI), Act. Kuvalekar, in his judgement said that indirectly, since the parent institute is getting the funds for institutes run by them, the RTI is applicable. The judgement came in the...

It was an unusual day at Rajasthan University on Thursday when a dalit student, Raj Tepan, came on horseback with his supporters and musical band following him up to the vice chancellor's office. Reason: Dalit students wanted to prove that the derogatory remarks made by their 'guru' P D Sharma, who said dalits are not entitled to ride horses, were absurd. The professor has since apologized for the remark, but not...

Taking a serious note on the suicides due to the purported harassment or embarrassment caused by the collection agents of Micro Finance Institutions (MFIs), Minister for Rural Development, IKP, Pensions, NREGP and Self-Help Groups, Vatti Vasanth Kumar stated that the government was contemplating making an Act to streamline the operations of MFIs in AP. Talking to media persons in the New Delhi, the minister said that the government would frame rules and...